Skinner, Frank S.; Ioannides, Michalis - In: Journal of Business Finance & Accounting 32 (2005-06) 5-6, pp. 1141-1169
We argue that the appropriate discount rate used to report defined benefit pension plan liabilities in the financial statements is a yield derived from an estimate of a double A corporate yield curve. We show that parsimonious yield curve techniques are easily applicable to the sterling double A...